Huake Run Completes RMB 100 Million Pre-C Round Financing, Continuing to Build an Innovative Robotics-Powered Minimally Invasive Orthopedic Platform

Recently, HICREN Biotechnology Co., Ltd. of Ningbo—a pioneering company in the field of robot-assisted minimally invasive orthopedic platforms—completed a Pre-C round of financing totaling RMB 100 million, co-led by Hangzhou Bay Venture Capital and Ningbo Jierui. The funds will be primarily allocated to the research and development, regulatory registration, and market launch and promotion of the company’s orthopedic surgical robot series and innovative minimally invasive consumables.

As a pioneer in angled vertebral augmentation technology, Huake Run is the first manufacturer in China to obtain both domestic and EU approvals for the marketing of its angled vertebral augmentation surgical products. In recent years, the company has consistently pursued expansion and development, centering on micro-innovative technologies and new-material applications to deliver a comprehensive “1+3+1” orthopedic solution built around a “robotics + consumables + equipment” architecture. This strategy has enabled Huake Run to establish an innovative product portfolio spanning orthopedic surgical robots, a full range of vertebral augmentation products, interbody fusion and non-fusion devices, spinal internal implants, bone-repair material series, sports-medicine solutions, active medical devices and consumables, as well as artificial-intelligence–enabled systems.

In early 2021, Huake Run completed a RMB hundreds-of-millions Series B funding round, enabling the company to comprehensively advance product R&D and resource integration. Throughout the year, the company launched more than 50 product development projects, and its market sales grew by 160% year on year compared with 2020. In November 2021, Huake Run reached an agreement with Interventional Systems (INS), a European innovator in surgical robotics, on technological and commercial collaboration, jointly entering the Chinese orthopedic microsurgical robotics market. In December of the same year, the company established Sino-European Zhiwei (Shanghai) Robotics Co., Ltd. in Shanghai, thereby fully establishing a pipeline of minimally invasive orthopedic products empowered by robotic technology.

In Huake Run’s “1+3+1” track layout, Vertebroplasty Product Line This is the flagship product line driving the team’s comprehensive market rollout. While the first-generation Corner products have rapidly gained market penetration and widespread acclaim, the full portfolio—including Corner kyphoplasty/vertebroplasty, conventional vertebroplasty/kyphoplasty, and spinal bone cement—has now been listed on procurement platforms and covered by national medical insurance in nearly 20 provinces. Spinal Fusion and Internal Fixation Product Line To date, three product registration certificates have been obtained, and the products were rapidly launched into the market in 2022. They are now being used in clinical settings at several tertiary hospitals and have received positive feedback. Sports Medicine Product Line It is expected that two registration certificates will be obtained by the end of 2022 or in the first quarter of 2023, and more differentiated innovative products will be launched successively. Active Equipment and Related Consumables Product Line The company has already obtained four registration certificates and is currently conducting joint R&D on additional products in collaboration with universities and key opinion leader (KOL) hospitals, continuously refining its end-to-end solutions in this field. Leveraging its partnership with INS in core robotic hardware and Huake Run’s proprietary intelligent robotics technology portfolio, Surgical Robot Product Line Leveraging micro-robots as the core platform, we will focus on addressing key pain points in the current market—such as complex operation, time-consuming procedures, large footprint, limited scalability, and high costs—to deliver a cost-effective product portfolio characterized by speed, precision, and miniaturization. This will empower multiple product lines, including vertebroplasty, spinal fusion and internal fixation, sports medicine, active medical devices, and related consumables. To date, our team has completed the R&D and finalization of both the bone-cement robot and the first-generation spinal robot, with an official launch expected by the end of next year. The second-generation spinal robot builds on the first generation with deep智能化 enhancements and has already progressed to prototype development. In addition, the sports-medicine robotics project is set to officially commence in the near future.

Mr. Ma Yan, Chairman and General Manager of Ningbo Huake Run Biotechnology Co., Ltd., stated: “The successful completion of this round of financing will further accelerate the research and development, regulatory registration, and market launch of Huake Run’s orthopedic surgical robot series and innovative minimally invasive consumables. We look forward to welcoming more partners with a forward-looking vision and deep industry insights to join us, helping the company deepen its efforts in product R&D, resource integration, team building, capacity expansion, and market promotion, and jointly build an innovative enterprise that leverages robotics to empower the minimally invasive orthopedic platform.”

Mr. Shi Tianjie, Executive Deputy General Manager of Ningbo Haichuang Group Co., Ltd., stated: “As a high-quality, technology-driven innovation enterprise in the New Area, Huake Run has seen its sales of orthopedic consumables steadily expand. With its entry into the field of orthopedic surgical robotics, Huake Run will establish a closed-loop ‘robotics + equipment + consumables’ business model, which will bolster the sales of the company’s entire product portfolio. We look forward to seeing Huake Run become one of the New Area’s locally based listed companies.”

Mr. Sun Guozhi, Chairman of Qianwan Holding Group, stated: “Huake Run is a domestic leader in the field of percutaneous vertebroplasty technology, with a robust and well-sequenced pipeline of products currently in production, under registration, and in development, indicating substantial future growth potential. Investing in Huake Run will further boost the development of the life and health industry in the Qianwan New Area while simultaneously strengthening the Group’s overall industrial portfolio.”

Ningbo Hangzhou Bay New Area Emerging Industry Venture Capital Co., Ltd. (“Hangzhou Bay Venture Capital”) is a wholly owned subsidiary of Ningbo Haichuang Group Co., Ltd. (hereinafter referred to as “Haichuang Group”). Haichuang Group is a state-controlled enterprise under the Management Committee of the Ningbo Hangzhou Bay New Area, serving as a key platform for resource allocation, investment and financing, and capital operations in the New Area. It plays a vital role in upgrading the New Area’s industrial structure, enhancing urban quality, and improving regional functions. The Group’s core business focuses on the investment and development of various industrial parks, entrepreneurship parks, and processing zones; the provision of supporting infrastructure; the construction of community facilities that cater to industrial needs; and the cultivation of industry-chain investments through technical services and financial services. In addition, the Group is responsible for the investment management of government funds related to industrial development.

Ningbo Jierui Equity Investment Co., Ltd. (“Ningbo Jierui”) is a wholly owned subsidiary of Ningbo Qianwan Holding Group Co., Ltd. (hereinafter referred to as “Qianwan Holding Group”). Qianwan Holding Group is a state-owned investment holding company under the Management Committee of the Ningbo Qianwan New Area, responsible for advancing the comprehensive development of urban land and the construction of infrastructure in the New Area, with the aim of becoming a professional, diversified, and market-oriented urban operations service provider that integrates urban investment and construction, integrated operations, and industry-driven development.